UBS Ltd

London, UK: (May-16-07) Real Estate Opportunities Ltd had filed a lawsuit against UBS Ltd in relation to the launch of Real Estate Opportunities. Real Estate Opportunities Ltd agreed to resolve all claims against UBS Ltd. The two parties entered into a settlement agreement in which UBS Ltd. provided an immediate cash payment that resulted in a 6.3 million pound sterling enhancement to the net assets of Real Estate Opportunities Ltd. Though other terms of the settlement were not made public, it is known that on March 16, REO reached a settlement with Aberdeen Asset Management. [FORBES: UBS LTD.]

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Published on May-18-07